Markets


LeEco to invest $3 billion in electric car facility LeEco to invest $3 billion in electric car facility
- August 13, 2016

The factory, which will be built in Zhejiang province's Deqing county, is part of LeEco's 20 billion yuan Eco Experience Park project which will include an entertainment park. LeEco also plans to produce cars at a plant being built near Las Vegas by USA strategic partner Faraday Future , in which LeEco founder Jia Yueting has invested. (more...)
US rig count up 17 this week to 481, Texas up 13 US rig count up 17 this week to 481, Texas up 13
- August 13, 2016

US crude futures gained over 2 percent to over $44 a barrel, putting the contract on track for a weekly gain over 6 percent, its biggest weekly increase since April, after it fell below $40 last week. That is a slight reduction from last week when Simmons forecast rigs would average 491 in 2016, 683 in 2017 and 961 in 2018. Among major oil- and gas-producing states, Texas gained 13 rigs and Colorado, New Mexico, North Dakota, Ohio and Utah were up one each. (more...)
USA stock indexes edge lower as investors weigh economic data
- August 13, 2016

They rose more than 4 percent Thursday after Saudi Energy Minister Khalid al-Falih said members and nonmembers of the Organization of the Petroleum Exporting Countries would discuss the market situation during an informal meeting next month. (more...)
Turkey, Iran pledge greater cooperation over Syria
- August 13, 2016

US officials are reportedly suspicious that statements by alleged coup-plotters blaming Gulen were made under duress and are concerned that the 75-year-old hermit would not receive a fair trial. The Gulen case has become a major source of tension between the United States and Turkey, a North Atlantic Treaty Organisation ally and a key part of the USA fight against the Islamic State. (more...)
Boy hurt in accident on wooden roller coaster, hospitalized Boy hurt in accident on wooden roller coaster, hospitalized
- August 13, 2016

Children under 48 inches tall must be accompanied by an adult, according to park rules. The amusement park , about 50 miles east of Pittsburgh, has two roller coasters and describes itself as the "best kids park in the world". However, during a Wednesday interview, season-pass holder Erica Conrad said the ride's velcro straps had a tendency to malfunction. At this point, we know the ride was most recently inspected by a private certified inspector on August 6, 2016, and that it ... (more...)
Blast at Turkey hospital part of coordinated attacks; 8 dead
- August 13, 2016

Over 40,000 people have been killed since the PKK - proscribed as a terrorist group by Turkey, the European Union and the United States - first took up arms in 1984. The authorities believe both blasts were carried out by the PKK , a Turkish official said. -By Suzan Fraser in Ankara. Several ambulances were sent to the area. (more...)
North Dakota oil output drops 20K barrels daily in June North Dakota oil output drops 20K barrels daily in June
- August 13, 2016

The most recent data comes from June which shows just over 1 million, 20 thousand barrels of oil were produced each day. The drop reflects a trend that started in 2014, when output started to track down with oil prices. Helms said Bakken gas production has doubled since the gas capture rules went into effect, and flaring has been reduced to about one-fourth of what it was at that time. (more...)
Macy's is closing another 100 stores
- August 13, 2016

The Cincinnati-based firm did not say which 100 stores will close. In it's announcement, no specific stores earmarked for closure were noted and a company spokeswoman said those decisions have not been announced, if they've been made. In stores, new vendor shops will be added and staff will be increased to provide such services as the My Stylist personal shopper. The company plans to offset that loss in sales by cutting costs, even beyond shutting down these stores. (more...)
Wildfire In Portugal Leaves Three People Dead
- August 13, 2016

More than 300 people have sustained injuries in the fires, most due to smoke inhalation or minor burns, Albuquerque said. The Madeira fire forced the evacuation of more than 1,000 residents and tourists in the islands off northwestern Africa. (more...)
Eurostar passengers face disruption after workers vote to strike
- August 13, 2016

The dispute is over unsocial hours and duty rosters for about 80 train managers, the RMT union said Wednesday. RMT members voted in favour of strike action on the basis that Eurostar had failed to honour their commitments and the fact that work-life balance was being repeatedly undermined. (more...)
Gas smell investigated in probe of deadly apartment fire
- August 13, 2016

It is not believed that anyone who might still be inside the building could be alive, officials said. The Bureau of Alcohol, Tobacco, Firearms and Explosives had roughly 30 people working the investigation, assisting local authorities. "Everybody was getting out of the building as rapidly as possible". The official cause of the fire has not been released, but some residents told NBC4 that they had smelled natural gas periodically in the days leading up to the explosion. (more...)
Stocks rally, pound drops as Bank of England backs stimulus Stocks rally, pound drops as Bank of England backs stimulus
- August 13, 2016

However, it also launched two new schemes, one to buy £10 billion of high-grade corporate bonds and another - potentially worth up to £100 billion - to ensure banks keep lending even after the cut in interest rates. Thursday's decision underscored the bank's concern about an economy that has taken a sharp turn lower since the vote to leave the European Union, which creates uncertainties for businesses about the country's future trade relations with the rest of the bloc. (more...)
Vail Resorts Buys Whistler Blackcomb For $1 06 Billion Vail Resorts Buys Whistler Blackcomb For $1 06 Billion
- August 13, 2016

Vail said it plans to "invest substantially" in Whistler Blackcomb's infrastructure and its expansion of four-season activities. "We think that working with Vail will accelerate our business plan and we're excited to move forward with it". (more...)
Florida swimmer contracts brain-eating amoeba Florida swimmer contracts brain-eating amoeba
- August 13, 2016

Weston Mayor Daniel Sterner said they were only made aware of it on Friday. The body of water where the rare amoeba was contracted is not accessible by the public, according to officials. Death usually occurs about 5 days (range of 1 -12 days) after initial symptoms appear. According to the Centers for Disease Control, the infection is caused by the heat-loving miscroscopic single-cell amoeba that has 97% mortality rate for those infected. (more...)
USA stocks seen lower after retail sales spoils Wall Street party
- August 13, 2016

After topping its previous record in mid-July, the S&P 500 has inched higher in a range, not moving more than 1 percent in either direction for 23 straight days, the longest streak since 2014. It also projected that global oil demand won't grow as much as it previously expected next year, citing a weaker global economy. The restaurant operator, which said it plans to shutter 95 of its company-owned locations by September, slumped 43 cents, or 11.5 percent, to $3.30. (more...)
Top GOP leaders skip Trump return to Wisconsin Top GOP leaders skip Trump return to Wisconsin
- August 13, 2016

Trump has not released those, although he did release his birth certificate. Trump says he won't release them until Internal Revenue Service completes audits of his returns. Republican presidential candidate Donald Trump has refused to release his tax returns. "I am humbled and moved by the Republicans who are willing to stand up and say that Donald Trump doesn't represent their values", she said at a rally in Iowa this week. (more...)
India's CPI inflation accelerates to 6.07 percent in July
- August 13, 2016

The industrial output data are based on an old series not reflected in India's current gross domestic product figures. Food price inflation in rural areas stood at 8.2 per cent in July 2016 against 7.6 per cent in June and 2.7 per cent in July a year ago. (more...)
Department stores look to recapture their appeal
- August 13, 2016

Shares of Macys rose more than 14 percent Thursday morning. However, it did note that the stores generated sales of around $1bn. After the new closures, the company will have 666 stores, 38 of which will be Bloomingdale's . Annual net sales at the stores Macy's plans to shutter were estimated at about $1 billion. Revenue came in at $5.87 billion, above projections of $5.75 billion but also down from $6.10 billion a year earlier. (more...)
Oil prices rebound on big USA stockpile drawdown
- August 13, 2016

In London, North Sea Brent for October delivery rose $1.30 to $43.10 a barrel on the Intercontinental Exchange. Last week, the EIA reported that US crude stockpiles fell by 1.9 million barrels the week-ending July 29 . Oil prices dipped on Monday as a global supply glut and weak demand continued to weigh on the market. The New York futures contract for September delivery settled at $39.51 United States a barrel, down 55 cents from close on August 1. (more...)
Government updates Apprenticeship Levy plans Government updates Apprenticeship Levy plans
- August 13, 2016

The Association of Licensed Multiple Retailers (ALMR) has asked the government to delay the introduction of the upcoming Apprenticeship Levy, citing the economic storm created by Brexit. The event will address key issues around the levy including anti-avoidance legislation, practical solutions to collection of the levy, Digital Voucher Accounts, National Insurance savings and other tax implications. (more...)

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